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About export collection
Export documentary collection is a conditional form of trade settlements initiated by exporter. Your company orders us to issue to your counterparty (importer) through its bank the trade documents authorising to collect goods in return for payment or securing future payment (for instance, through acceptance of bill of exchange).
- Eliminate the risk of releasing goods without payment or without securing future payment (for instance, through acceptance of bill of exchange)
- Mitigate the risk of not being paid for the goods sent
- Reduce costs ― the documentary collection is cheaper than documentary letter of credit or bank guarantee
The basic currencies are PLN, EUR, USD, but – should the need arise – the transaction may be also performed in other currencies.
There is no required set of documents that should be sent for collection. Most frequently these are as follows: commercial invoice, transport documents (for instance, Bill of Lading ― in maritime transport, air waybill ― AWB, international carriage of goods by road - CMR), insurance documents (policy or certificate), bill of exchange, shipping documents, courier's receipts, postal receipts or proofs of mailing, packing list, certificate of origin, approvals and quality certificates, documents stating type and quantity of goods (for instance, CIS or SGS certificate), various types of reports (for instance, control report or takeover report).
Exporter sends the goods and delivers documents with an appropriate order for the Bank, and then this bank sends them to the importer's bank with collection instruction. In order to receive the documents, importer must fulfil the conditions of documentary collection (inter alia, pay or accept bill of exchange).